How to Rent Your Property
We are a local, independent firm specialising in Residential Lettings and Property Management. As specialists we are fully focused on the priorities and needs of the Landlord.
We understand that letting your property, especially for the first time, can be a worrying experience and with this in mind our most important consideration is providing you the Landlord with the best possible service and the right contract holder for your property.
We never forget that the property is your most important asset and we can confidently assure you that by instructing us to act as your Letting and Management Agents your asset will be in professional and caring hands.
A Personal Service
Because we are a small firm, we are able to offer a personal service, with attention to detail, whilst at the same time maintaining a high standard of competence and professionalism.
Competitive Rates
Our fees are competitive and may be open to negotiation dependent on the level of Service required. We are particularly committed to investment Landlords and savings can be made on the smallest of portfolios.
Carefully Selected Contract Holders
Drawn from a continually updated register, all prospective contract holders are thoroughly referenced and credit checked. In some cases we will also require a guarantor.
Levels of Service offered
This is our inclusive Service, which provides for the marketing of the property and carrying out viewings (within office hours excl. weekends), leading to the introduction and vetting of a prospective Contract Holder. This proving satisfactory, we will then go ahead and prepare the occupation contract and if required an inventory. The contract holder will then be checked in against the inventory.
During the occupancy we carry out periodic inspection visits. Should these bring to light any maintenance issues, we will (within the confines of our Management Agreement) recommend, oversee and account for any necessary repairs.
Collecting and processing of rental payments is also an important part of our Full Management Service. Rental balances will be credited automatically to the Landlord’s nominated bank account.
The Occupation Contract will be fixed for a minimum of 6 months and then it will automatically convert to a periodic contract and therefore no renewal contracts will be required. Alternatively should the contract holder have given notice to leave, we will arrange to check them out as applicable.
This Service is suitable for those Landlords who are not residing locally, or would rather not deal with the contract holders directly, preferring all aspects to be handled by an Agent.
Our Letting Only Services includes marketing of the property, leading to the introduction and vetting of a prospective Contract Holder. This proving satisfactory, we then go ahead and prepare the occupation contract. We do require the contract holder finder fee upfront.
Following this, should you require an inventory this will be an extra charge and we will carry out same before your handover with the contract holder. The first month’s rent and a contract holder deposit is then paid direct to the Landlord. Managing the property, including the maintenance and rent collection, will then be the responsibility of the Landlord. Should any other services be required fees will apply.
Our Fees
We offer a competitive fee structure and can possibly offer reductions on our standard charges for multiple property portfolios. Our standard charges are as follows:
Landlord Guide To Services and Fees
• Fully Managed Service – 12% of the monthly rent (10% + vat)• Fully Managed Registration & New Contract Holder Fee - £426 (£355 + vat)
This includes booking on the property including photos, advertising, To-Let board, viewings (within office hours excl. weekends & Bank Holidays) contract holder referencing, rent collection, deposit registration, Occupation Contract, utility management and inspections.
• Let Only / Contract Holder Finder Fee - £525 (£437.50 + vat)
This includes booking on the property including photos, advertising, To-Let board and contract holder referencing.
• Contract Agreement Fee - £96 (£80 + vat)
• Utilities Management Fee - £50 (£41.67 + vat) per visit move in / out
• Deposit Registration Fee - £50 (£41.67 + vat)
• Contract Holder Deposit Dispute/Adjudication Assistance - £120 (£100 + vat)
This includes claim form, admin, solicitor fee for declaration. Preparation of all evidence and submitting the case to the DPS as well as dealing with correspondence. This only applies where the agent has protected the deposit.
• Check In / Out Fee - £96 (£80 + vat)
This includes an inspection of the property, pictures and handover / collection of keys.
• Additional Property Visits / Inspections - £72 (£60 + vat) per visit
• Service of Landlord notice to Terminate (RHW16) - £72 (£60 + vat) per notice
• Inventory Costs:
1-2 Beds: Unfurnished - £90 (£75 + vat) Furnished - £110 (£91.67 + vat)
3-4 Beds: Unfurnished - £110 (£91.67 + vat) Furnished - £130 (£108.33 + vat)
5+ Beds: Unfurnished - £130 (£108.33 + vat) Furnished - £150 (£125 + vat)
• Letter Requests/Copy Statements/Annual Returns - £20 each (£16.67 + vat)
• Rent Review - £50 (£41.67 + vat)
• Assistance in Registering with Rent Smart Wales - £50 (£41.67 + vat)
• Cutting of Keys - £20 (£16.67 + vat) In addition to the cost of keys cut
• EPC - £120 (£100 + vat) / Floor Plan - £96 (£80 + vat)
Both - £168 (£140 + vat)
• Gas Safety certificate - £108 (£90 + vat) (If any gas fires or appliances extra charges apply)
• Gas Safety Certificate & Boiler Service - £157 (£130.83 + vat)
• Electrical Periodic Inspection Report - £222 (£185 + vat)
• PAT Testing - Subject to Quotation
• Smoke Alarm Replacement - New Ei3016 Optical Smoke Alarm - £156 (£130 + vat) per alarm
• Alarm Reset - Subject to Quotation
• Full Legionella risk assessment - Subject to Quotation
• Pre or end of Tenancy Cleans – Subject to Quotation
• Eviction Handling – Subject to Quotation
• Arrangement of any maintenance/repair works to the property using our partner contractors – 15% admin fee + vat added to the total costs
Guide for Landlords
Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law.
We provide summarised information below. If you require further advice or assistance with any matter, please do not hesitate to contact us:
Preparing the Property
We have found that a good relationship with Contract Holders is the key to a smooth-running occupancy. As Property Managers this relationship is our job, however it is important that the Contract Holders should feel comfortable in their temporary home and that they are receiving value for their money. It follows therefore that a well presented and maintained property in a good decorative order will go towards this, whilst also achieving a higher rental figure. Contract Holders are also more inclined to treat such a property with greater respect.
Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the Landlords expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral.
Your property can be let fully furnished, part furnished or unfurnished. Which of these is appropriate will depend on the type of property and local market conditions. We will be pleased to give you advice on whether to furnish or not and to what level. As a minimum you will need to provide decent quality carpets, light fittings and we recommend curtains/blinds. Remember that there will be wear and tear on the property and any items provided.
Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. Some items may be boxed, sealed and stored in the loft at the owner’s risk. All cupboards and shelf space should be left clear for the Contract Holder’s own use.
Gardens should be left neat, tidy and rubbish free, with any lawns cut. Contract Holders are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools. However, few Contract Holders are experienced gardeners and if you value your garden, or if it is particularly large, you may wish to arrange visits by a regular gardener.
At the commencement of the occupancy the property must be in a thoroughly clean condition, and at the end of each occupancy it is the Contract Holders’ responsibility to leave the property in a similar condition.
It is helpful if you leave information for the Contract Holder, e.g. on operating the central heating and hot water system, washing machine and alarm system and the day refuse is collected etc.
You should provide one set of keys for each Contract Holder and where we will be managing the property one set for us.
Other Considerations
If your property is mortgaged, you should obtain your mortgagee’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.
If you are a leaseholder, you should check the terms of your lease, and obtain any necessary written consent before letting.
You should ensure that you are suitably covered for letting under both your buildings and contents insurance. Failure to inform your insurers may invalidate your policies.
We recommend that you arrange for regular outgoings e.g. service charges, maintenance contracts etc. to be paid by standing order or direct debit.
We will arrange for the transfer of Council Tax and utility accounts to the Contract Holder. Meter readings will be taken, allowing your closing gas and electricity accounts to be drawn up (Fees may apply). All these matters we will handle for you, however British Telecom will require instructions directly from both the Landlord and the Contract Holder.
When resident in the UK, it is entirely the Landlords responsibility to inform the Revenue & Customs of rental income received, and to pay any tax due. Where the Landlord is resident outside the UK during a tenancy, he will require an exemption certificate from the Revenue & Customs before he can receive rental balances without deduction of tax.
It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of an occupancy. Without such safeguards, it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to provide a complete Service, we will if required arrange for a member of staff to prepare an inventory and schedule of condition, at the cost quoted in our fees.
The way you rent has now changed for tenants and landlords. The Renting Homes Act is the biggest change to housing law in Wales for decades.
From 1 December 2022 the Renting Homes (Wales) Act 2016 changed the way all landlords in Wales rent their properties. It improves how we rent, manage, and live in rented homes in Wales.
How do these changes affect me?
The Act simplifies how all landlords rent their properties. Whether you are a landlord or a letting/managing agent, these changes will affect you.
Key areas affected by the Act include:
• Tenancy Agreements:
Which will be replaced by Occupation Contracts and must be provided in writing• Increased Security:
Six months’ notice, if the contract is not breached. Retaliatory evictions prevented• All properties must be safe:
This includes working smoke alarms, and electrical safety testing• Anti-social behaviour:
A fair and consistent approach for everyone• Succession:
Increased rights to pass on your home• Abandoned property:
Making it easier to repossess abandoned properties.For more details on all the changes, view the Welsh Government Renting Homes webpage: https://gov.wales/housing-law-changing-renting-homes
Just a few things as a landlord operating in Wales, what do you need to know about the new legislation?
There will now be two types of Landlords
Under the Welsh-wide law, there will be two types of landlords. Private landlords who rent out private property and community landlords (local authorities and registered social landlords).Tenants are now Contract Holders
Tenants and licensees will be ‘contract holders’, and the agreement between the landlord and tenant (or licensee) will be called an ‘occupation contract’. Community landlords will provide ‘secure occupation contracts’, and private landlords will enter ‘standard occupation contracts’.The terms of a standard occupation contract must include:
• Key matters.
The names of the parties and the address of the property.• Fundamental terms.
Essential matters such as possession procedures and the landlord’s repair obligations.• Supplementary terms.
The practicalities of the contract. For example, that the contract holder needs to notify the landlord if the property will be empty for four weeks or more.The terms may also include:
• Additional terms.
Matters agreed between the landlord and the contract holder. For example, if the contract holder is allowed to keep a pet. These terms must comply with section 62 of the Consumer Rights Act 2015.Private landlords must provide all contract holders with a written statement that sets out the terms of the contract.
Existing tenancy agreements will convert to an occupation contract on the day of implementation (1st December 2022). For rentals entered after this date, landlords must issue the written statement within 14 days of occupation. The statement can be provided in hardcopy or by email if the contract holder agrees.
Any landlord who fails to fully meet this obligation within the required time will face penalties.
Ending Occupation Contracts
Under the new rules, how a landlord can end a tenancy will also change. Where a no-fault notice is issued, the landlord must provide a minimum notice period of six months, which cannot be given until six months after the contract starts. In addition, such notice cannot be issued if the landlord has not complied with specific obligations (registration, licensing, deposit protection, health & safety, etc.).
Where the contract holder has breached the occupation contract, the minimum notice period that a landlord can give is one month (this can be shorter if the breach concerns antisocial behavior or serious rent arrears).
A fundamental change in the legislation relates to joint contracts. Currently, if an agreement ends, this applies to all tenants. But under the new rules, a joint contract holder can leave a contract, and new joint contract holders can be added, without a fresh agreement.
Housekeeping for Landlords
The new legislation requires landlords to ensure that homes are fit for human habitation (FFHH). This includes carrying out electrical safety testing and providing working smoke alarms and carbon monoxide detectors.
Landlords will also have to continue to keep dwellings in repair. And under the Act, this will include:
• The structure and exterior of the property (including drains, gutters, and external pipes)
• Service installations (e.g., hot and cold water, sanitation, gas, and electricity)
Landlords cannot make contract holders pay for repairs (where the repair is not their fault), and they cannot evict a contract holder just because they have complained about the condition of a property.
Health and Safety, and other Legal Requirements
The following requirements are the responsibility of the owner (Landlord). Where we are managing the property they are also our responsibility. Therefore where we are managing we will ensure compliance, any costs of which will be the responsibility of the landlord.
Every landlord who owns a property in Wales is required to be registered with Rent Smart Wales, along with details of the property. In addition, anyone letting or managing a property in Wales (regardless of where they are based) will also need a licence to undertake those activities.
Therefore by law all Landlord’s need to be registered under Rent Smart Wales and if not using a licensed agent to manage your property you also need to be trained and licensed by Rent Smart Wales.
There will be a fee for registration, which will be renewable every five years. Landlords also have a duty (under section 16 of the Act) to notify Rent Smart Wales about any changes within 28 days. Failure to register is an offence and a landlord will be held liable for a fine up to level 3 on the standard scale (currently £1,000).
Given the above should you decide on a tenant finder only you will need to register as a landlord and also apply for a licence which includes training in order to gain the licence and fees apply as detailed in the below link along with any further information you may require. However if you decide to go fully managed as a landlord you will just be required to register and select ourselves as the agents on the below link. Please take a look on the following link for Rent Smart Wales website for more information:
https://www.rentsmart.gov.wales/en/
Olivegrove is a licenced agent and registered landlord; employees have completed suitable training and have been declared on the licence.
Annual safety check: Under the Gas Safety (Installation and Use) Regulations 1998 all gas appliances and flues in rented accommodation must be checked for safety at least every 12 months by a Gas Safe registered engineer. They must be maintained in a safe condition at all times, records kept for at least 2 years, and a copy of the safety certificate given to each new contract holder before their occupancy commences.
A landlord is required to have the electrical installation of the dwelling tested, at the recommended interval, not exceeding every five years. An Electrical Installation Condition Report (EICR) and conformation of electrical works carried out during the period of the contract MUST be made available to the contract holder within seven days of the occupation date or within seven days of the works having been completed, as appropriate.
Failure to comply with the Fit for Human Habitation regulations may prohibit or delay a notice seeking possession.
The Furniture and Furnishings (Fire) (Safety) Regulations 1988 (amended 1989 & 1993) provide that specified items supplied in the course of letting property must meet minimum fire resistance standards. The regulations apply to all upholstered furniture, beds, headboards and mattresses, sofa-beds, futons and other convertibles, nursery furniture, garden furniture suitable for use in a dwelling, scatter cushions, pillows and non-original covers for furniture. They do not apply to antique furniture or furniture made before 1950, and certain other items. Non-compliant items must be removed before a occupancy commences.
All landlords MUST ensure that their property is fitted with inter-linked smoke alarms, on each storey connected to the electrical supply, have written records that they have been tested and that they have not expired.
The Fit for Human Habitation regulations require that a Carbon Monoxide (CO) Detector (alarm) MUST be present in any room containing an oil, gas or solid fuel burning appliance.
An Energy Performance Certificate (EPC) measures the energy efficiency of a property on a scale of A-G; they are a legal requirement for a building to be sold, let or constructed. Once obtained, an EPC is valid for 10 years with the most efficient homes being in band A. The Certificate also tells you, on a scale of A-G, about the impact the home has on the environment from Carbon Dioxide (CO2) emissions. The Certificate also includes recommendations on ways to improve the home’s energy efficiency to save you money and help the environment.
The certificates must be provided free either when (or before) any written information about the property is provided to prospective contract holders or a viewing is conducted. An EPC is valid for 10 years. We have an approved registered energy assessor and we will be pleased to arrange an EPC inspection and assessment on your property upon request, fees apply.
Please note that we cannot market your property to let until we have in our possession a signed contract and a valid EPC for the property.
The HHSRS provides an analysis of how hazardous a property is through assessment of 29 potential hazards found in housing. Landlords have to maintain their properties to provide a safe and healthy environment. The HHSRS is enforced by local authorities.
All deposits taken by landlords and letting agents under Assured Shorthold Tenancies (ASTs) in England and Wales must be protected by a tenancy deposit protection scheme. To avoid any disputes going to court, each scheme is supported by an alternative dispute resolution service (ADR). Landlords and letting agents can choose between two types of scheme; a single custodial scheme and two insurance-based schemes.
From October 2010, the Equality Act replaced much of the Disability Discrimination Act of 2005. However, the Disability Equality Duty in the DDA continues to apply. These Acts define disabled peoples rights in respect of premises that are let or to be let. Landlords and managers of let/to let premises are required to make reasonable adjustments for disabled people.
Olivegrove are a member of The Property Ombudsman and follow its Codes of Practice which are approved by The Chartered Trading Standards Institute. This demonstrates that our business operates to the highest standards and is committed to raising standards across the industry.
Client Money Protection (CMP) is a scheme that reimburses landlords and contract holders should an agent misappropriate their rent, deposit or other client funds. Olivegrove is a member of Client Money Protect having Client Money Protection for landlords and contract holders.
It is a criminal offence to trade as an estate agent or letting agent without being registered with HMRC for money laundering supervision. Olivegrove is registered with HMRC for Money Laundering Supervision; employees have completed training to comply with the registration.
The above is a brief summary of landlords' responsibilities and of the laws surrounding rental properties. We hope that you find it useful. If there are any aspects of which you are unsure, please ask us. We look forward to being of assistance to you in the letting and management of your property. If you wish you can print this page by using your browser Print option.
